Viavi Solutions Inc. (NASDAQ:VIAV) Director Richard Belluzzo Sells 8,385 Shares

Viavi Solutions Inc. (NASDAQ:VIAV - Get Free Report) Director Richard Belluzzo sold 8,385 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $10.02, for a total transaction of $84,017.70. Following the completion of the transaction, the director directly owned 242,311 shares of the company's stock, valued at approximately $2,427,956.22. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Richard Belluzzo also recently made the following trade(s):

• On Wednesday, May 7th, Richard Belluzzo sold 8,385 shares of Viavi Solutions stock. The stock was sold at an average price of $8.92, for a total value of $74,794.20.

Viavi Solutions Trading Up 0.9%

Shares of NASDAQ VIAV traded up $0.09 during midday trading on Tuesday, reaching $10.16. 1,828,817 shares of the stock were exchanged, compared to its average volume of 1,918,957. The stock has a 50 day moving average price of $9.52 and a 200-day moving average price of $10.36. The company has a current ratio of 1.53, a quick ratio of 1.32 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $2.27 billion, a P/E ratio of 508.25 and a beta of 0.87. Viavi Solutions Inc. has a 52-week low of $6.75 and a 52-week high of $12.91.

Institutional Trading of Viavi Solutions

A number of hedge funds have recently bought and sold shares of VIAV. GAMMA Investing LLC boosted its holdings in shares of Viavi Solutions by 1,429.1% during the first quarter. GAMMA Investing LLC now owns 39,008 shares of the communications equipment provider's stock worth $436,000 after purchasing an additional 36,457 shares during the last quarter. Amundi lifted its position in Viavi Solutions by 185.5% during the fourth quarter. Amundi now owns 111,730 shares of the communications equipment provider's stock worth $1,132,000 after buying an additional 72,599 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Viavi Solutions by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,334,893 shares of the communications equipment provider's stock worth $33,682,000 after buying an additional 139,934 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Viavi Solutions by 836.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider's stock worth $84,000 after buying an additional 7,434 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in Viavi Solutions by 201.2% in the 4th quarter. Marshall Wace LLP now owns 49,200 shares of the communications equipment provider's stock valued at $497,000 after buying an additional 32,867 shares during the period. Institutional investors and hedge funds own 95.54% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. B. Riley decreased their target price on Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. UBS Group cut their price target on Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Needham & Company LLC reissued a "buy" rating and issued a $15.00 price objective on shares of Viavi Solutions in a research note on Friday, May 2nd. Morgan Stanley dropped their target price on shares of Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $13.50 price target on shares of Viavi Solutions in a report on Friday, June 20th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $12.69.

Viavi Solutions Company Profile

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.

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